Base rate change - Mortgages | NatWest

Bank of England Base Rate

What would it mean for you if your mortgage interest rate changed?

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Bank of England Base Rate information

What is the Bank of England Base Rate?


The Bank of England Base Rate is announced by the Monetary Policy Committee every month. Mortgage Lenders use this interest rate to calculate the interest for some of their mortgage offerings. Should there be a change to the Bank of England Base Rate many mortgage lenders may review their mortgage rates.

How could it affect you?


The Bank of England Base Rate is taken in to account as a factor when deciding the NatWest Base Rate. Therefore, if the Bank of England Base Rate changes, your monthly payment may be affected if you are on a Tracker, Flexible (Offset) or Variable rate mortgage. If you are on a Fixed rate your monthly mortgage payment will not be affected by any change to the Bank of England Base Rate for the period of time your fixed rate mortgage is in place. 

Prepare yourself for a base rate change

Whether you are an existing NatWest mortgage customer or have your mortgage elsewhere, if you currently have all or part of your mortgage on Standard Variable Rate or your existing deal is about to come to an end, you may be affected by a potential change to interest rates.

Relax. Fix your deal so you know exactly what you'll pay each month.

If you a have a fixed rate mortgage, then your monthly repayment is fixed for a period of time, so you'll know exactly how much you are paying (Product fees may apply). It's important to consider what's best for you and there may be alternative options available.


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What could a change in your mortgage interest rate mean for you?

Interest rates may change at some point in the future. The change may be small and gradual, affecting everyone with a variable rate mortgage. 


Tools to help you plan

What will happen to your mortgage repayments if interest rates change?

Why not prepare yourself for a possible future change in mortgage costs, and use our Rate Change Calculator to understand what it could mean for you?

Whether you have a Capital & Interest or an Interest only mortgage, you can use this calculator to explore how future rate changes might impact your current mortgage payment. Please note: if you have a mortgage that is part Capital & Interest and part Interest only, you will need to calculate each element separately and add them together.

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